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Clock ticks on Pakistan's economic crisis

October 22, 2008
Pakistan is struggling to come to grips with a financial crisis.

It is hemorrhaging foreign currency reserves, and analysts say it needs up to $3-4 billion urgently to stabilize the economy.

Moreover, Pakistan's inflation is running at around 25 per cent, while heavy government borrowing from the central bank to fund the budget has created a liquidity crunch that requires aggressive central bank medicine.

Video: ANI
Also see: Global turmoil to hit India: PM

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